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RBI releases list of top wilful defaulters under RTI Act: Report


Date: 22-11-2019
Subject: RBI releases list of top wilful defaulters under RTI Act: Report
The Reserve Bank of India (RBI) has released a list of 30 major wilful defaulters in response to an RTI filed by The Wire in May this year.

This comes four years after the Supreme Court first directed the central bank to make public a list of the country's wilful defaulters.

Among the 30 defaulters, three companies belong to fugitive businessman Mehul Choksi.

The publication said that the total outstanding advances to these 30 companies adds up to over Rs 50,000 crore. This figure also includes the amount banks have written off.

The names on the list include some well-known ones like Gitanjali Gems, Rotomac Global, Zoom Developers, Deccan Chronicle Holdings, Winsome Diamonds, REI Agro, Siddhi Vinayak Logistics and Kudos Chemie. The report states that at some point or another over the course of the past five years, the Central Bureau of Investigation or the Enforcement Directorate has filed cases against these companies or their promoters.

The list given by the RBI is sourced from the Central Repository of Information on Large Credits (CRILC) which is a centralised banking database. Starting February this year, the option to list borrowers as wilful defaulters was given to banks.

Source: moneycontrol.com

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